Public accounts reflect financial strength of Yukon

FOR RELEASE
October 31, 2013

WHITEHORSE—The 2012/13 public accounts for the Government of Yukon released today by Premier and Minister of Finance Darrell Pasloski show an annual surplus of $119 million and an accumulated surplus of $1.5 billion.

“This is the Yukon government’s 10th annual reported surplus during the past 11 years,” Pasloski said. “Our healthy surplus is a reflection of our financial strength and will help the Yukon government continue to respond to emerging priorities and pressures.”

The consolidated financial statements—which include all Yukon government operations and public corporations—show $281 million in net financial resources, meaning that financial assets exceed all liabilities from past expenditures. The increase of $85 million
in net financial resources from last year is primarily due to increases in government revenue.

“As indicated in my 2013/14 budget address, Yukon’s growing population will require the construction of more schools and an expansion of the Whitehorse General Hospital,” Pasloski added. “Yukon’s expanding economy will also require more investment in energy, transportation and communication infrastructure. Positive financial results mean we can meet these challenges without mortgaging the future. We intend to continue to demonstrate this fiscally responsible management throughout this mandate.”

The public accounts are audited by the auditor general of Canada. They can be viewed online atwww.finance.gov.yk.ca/general/publications.html or picked up in print form at the Department of Finance, Government of Yukon main administration building,
2071 2nd Avenue, Whitehorse.

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Contact:

Elaine Schiman
Cabinet Communications
867-633-7961
elaine.schiman@gov.yk.ca

Bill Curtis
Communications, Finance
867-667-5276
bill.curtis@gov.yk.ca

News release #13-265